When the auto-partplace.com team decided to choose an auto loans vendor, we decided to provide only the best...
Compared to bank auto loans, which can run about 2 percentage points higher, dealership-financing rates are certainly enticing. However, did you know that some dealers offer a substantial rebate if you pay cash rather than take out an auto loan? For this reason, when you are shopping for the best "deal," don't overlook your bank as an economical financing source. People with bad credit don't realize that they can never get out of their credit crunches because they are stuck in the 21% APR range on all their loans and credit cards. By paying only the minimum payments, they will NEVER pay off their debt, because they have no concept of the time value of money, and don't realize the high APR is what is preventing them from paying off the principle. Most of them are brainless, with no common sense, and go buy new expensive cars at high APR when they have no business doing so, and should be buying a cheap used car if anything at all. Car loan refinancing is your only salvation if you fall into this pareto bucket.
